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Trust Administration

The office is in North County San Diego. It is easily accessible to the surrounding communities of Encinitas, Solana Beach, Cardiff-by-the-Sea, Leucadia, Carlsbad, Oceanside, Vista, San Marcos, Escondido and San Diego.

What is a Trust Administration?

A Trust Administration occurs when the Trustee (the operator) carries out of the terms of the Trust while complying with fiduciary duties. In many cases, a Trust Administration replaces a Probate proceeding for people who placed their assets in a Trust. Trust Administrations typically occur after the death of the Trustor or Settlor (the creator) of the Trust.

What happens during a Trust Administration?

Trust Administrations differ depending on the type of Trust being administered and the terms within that Trust. However, a Trustee generally must marshal (collect) the assets of the Trust, address creditors which possibly include the IRS, furnish Accountings, provide information to Beneficiaries upon request, comply with all fiduciary duties and make distributions to the Beneficiaries. The Trustee must be mindful of their fiduciary duties imposed by the Probate Code and any additional restrictions or freedoms provided in the Trust instrument. Trustees of Special Needs Trusts (SNTs) must also comply with the rules and regulations of SSI, SSDI, Medicaid/Medi-Cal and other programs Beneficiaries may be utilizing.

What if a Trust Administration does not occur?

Depending on the circumstances Beneficiaries could be harmed and the Trustee may be held personally liable.

Is a Trust Administration Expensive?

Trust Administrations are not inexpensive because they are an involved process requiring a significant amount of time to complete. In most cases, Trust Administrations do save Estates a great deal of money compared to the same Estate going through the only other alternative, Probate. The size of an Estate typically correlates with the amount of work that must be completed during a Trust Administration. Another consideration when attempting to determine the cost of Administration is the duration of the Trust. An ongoing Trust will have ongoing Trust Administration expenses. A Trust that distributes all assets to the beneficiaries upon the passing of the Trustor will not have ongoing Trust Administration expenses.

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